Buying property without saving: Buying property without savings seems to be difficult in case real estate market in India. Misconcepts like this and clubbed with others,are acting as a major block in the mindset of those planning to buy new home or office.
Here are some ways to tell you about Buying property without savings:
Most of us are of the view more saving will help us getting maximum of down-payment. But if we think carefully by offering maximum of down-payment, what is the use of banks and other finance organisations. We should not invest our hard-earned money at once, instead should spend it in small affordable instalments. Small instalments simply increase our buying capacity, thus we get chance to own bigger house or better business. I am of the view that we should opt for 100% finance option and that too at competitive rates.
Buying home or business with loan amount also help us saving tax money, as you must know that, the instalment that we pay every month is tax-deductible, which is great for budgeting and analyzing our expenses.
Another good thing is addition of private financing firms offering easy loans against gold and property and that too at very low rate of interest. They also have considerably lowered paper work for getting loan thus making new buyers feel easy and comfortable in arranging money for their projects.
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